×
You will be redirected back to your article in seconds

Gallery parent Itemus falls

Prexy blames shingle for problems

NEW YORK — One month after the Shooting Gallery folded beneath the weight of mounting debt and a flurry of lawsuits, its parent company, Itemus, has capsized.

The Toronto tech company has filed for bankruptcy and the board of directors has resigned.

In a letter to shareholders Tuesday, Itemus prexy Jim Tobin held the Shooting Gallery largely responsible for his company’s demise.

“The fall of Itemus will be blamed on the company doing too much too fast, on poor markets and on strategic and tactical moves that, in hindsight, were ill-conceived,” Tobin wrote. “In my view, Itemus would have withstood all those challenges if we hadn’t encountered so many ‘bottomless’ problems related to our Gallery acquisition.”

Tobin said he will recommend that Itemus trustees pursue legal action against “appropriate persons in the Shooting Gallery context.” The shingle has already been hit with at least eight other suits from various creditors.

More Film

  • Andrew Rannells. Lucy Hale pictured at

    Lucy Hale Joins Michael Pena in 'Fantasy Island' Movie

    NEW YORK — One month after the Shooting Gallery folded beneath the weight of mounting debt and a flurry of lawsuits, its parent company, Itemus, has capsized. The Toronto tech company has filed for bankruptcy and the board of directors has resigned. In a letter to shareholders Tuesday, Itemus prexy Jim Tobin held the Shooting […]

  • Fantastic Beasts the Crimes of Grindelwald

    'Fantastic Beasts: The Crimes of Grindelwald' Earns $10 Million Overseas

    NEW YORK — One month after the Shooting Gallery folded beneath the weight of mounting debt and a flurry of lawsuits, its parent company, Itemus, has capsized. The Toronto tech company has filed for bankruptcy and the board of directors has resigned. In a letter to shareholders Tuesday, Itemus prexy Jim Tobin held the Shooting […]

  • EARS TO YOU – In Disney’s

    Watch the Magical First Trailer for Disney's 'Dumbo'

    NEW YORK — One month after the Shooting Gallery folded beneath the weight of mounting debt and a flurry of lawsuits, its parent company, Itemus, has capsized. The Toronto tech company has filed for bankruptcy and the board of directors has resigned. In a letter to shareholders Tuesday, Itemus prexy Jim Tobin held the Shooting […]

  • A Private War

    'A Private War' Goes Public With Aviron's Word-of-Mouth Screenings

    NEW YORK — One month after the Shooting Gallery folded beneath the weight of mounting debt and a flurry of lawsuits, its parent company, Itemus, has capsized. The Toronto tech company has filed for bankruptcy and the board of directors has resigned. In a letter to shareholders Tuesday, Itemus prexy Jim Tobin held the Shooting […]

  • AVOD streaming video OTT users -

    WarnerMedia Streaming Service Will Launch Domestically First

    NEW YORK — One month after the Shooting Gallery folded beneath the weight of mounting debt and a flurry of lawsuits, its parent company, Itemus, has capsized. The Toronto tech company has filed for bankruptcy and the board of directors has resigned. In a letter to shareholders Tuesday, Itemus prexy Jim Tobin held the Shooting […]

  • --FILE--Wang Jianlin, Chairman of Dalian Wanda

    Legendary Denies Report Saudi Fund Mulling $700 Million Investment

    NEW YORK — One month after the Shooting Gallery folded beneath the weight of mounting debt and a flurry of lawsuits, its parent company, Itemus, has capsized. The Toronto tech company has filed for bankruptcy and the board of directors has resigned. In a letter to shareholders Tuesday, Itemus prexy Jim Tobin held the Shooting […]

More From Our Brands

Access exclusive content